Robeco Institutional Asset Management B.V. boosted its position in shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) by 12.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,102 shares of the semiconductor company’s stock after buying an additional 37,710 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Marvell Technology Group worth $8,425,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MRVL. Bessemer Group Inc. raised its holdings in Marvell Technology Group by 75.6% in the 2nd quarter. Bessemer Group Inc. now owns 3,511 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 1,511 shares during the last quarter. Machina Capital S.A.S. increased its position in Marvell Technology Group by 164.5% during the 2nd quarter. Machina Capital S.A.S. now owns 7,019 shares of the semiconductor company’s stock valued at $167,000 after purchasing an additional 4,365 shares during the period. NuWave Investment Management LLC acquired a new stake in Marvell Technology Group during the 2nd quarter valued at approximately $509,000. Fox Run Management L.L.C. acquired a new stake in Marvell Technology Group during the 2nd quarter valued at approximately $405,000. Finally, Toth Financial Advisory Corp acquired a new stake in Marvell Technology Group during the 2nd quarter valued at approximately $239,000.
MRVL has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Marvell Technology Group in a research report on Sunday, June 2nd. Goldman Sachs Group downgraded shares of Marvell Technology Group from a “buy” rating to a “neutral” rating and increased their target price for the company from $24.00 to $25.00 in a research report on Sunday, July 21st. They noted that the move was a valuation call. MKM Partners raised their price objective on shares of Marvell Technology Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Zacks Investment Research downgraded shares of Marvell Technology Group from a “hold” rating to a “sell” rating and set a $29.00 price objective for the company. in a research report on Thursday, July 25th. Finally, ValuEngine downgraded shares of Marvell Technology Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.25.
NASDAQ MRVL traded up $0.25 during mid-day trading on Tuesday, hitting $24.20. The company’s stock had a trading volume of 156,199 shares, compared to its average volume of 8,361,055. The firm’s 50 day moving average price is $25.15. Marvell Technology Group Ltd. has a twelve month low of $14.34 and a twelve month high of $27.64. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 8.02 and a beta of 1.16.
Marvell Technology Group (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Marvell Technology Group had a positive return on equity of 5.88% and a negative net margin of 12.18%. The business had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $651.07 million. During the same period last year, the business earned $0.32 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, analysts predict that Marvell Technology Group Ltd. will post 0.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, July 11th. Marvell Technology Group’s dividend payout ratio (DPR) is presently 28.24%.
About Marvell Technology Group
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
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